Mutual of America Capital Management LLC Has $1.21 Million Stock Position in Concentrix Corporation $CNXC

Mutual of America Capital Management LLC lowered its position in shares of Concentrix Corporation (NASDAQ:CNXC) by 4.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,875 shares of the company’s stock after selling 966 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Concentrix were worth $1,209,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CNXC. GAMMA Investing LLC lifted its holdings in shares of Concentrix by 761.3% during the first quarter. GAMMA Investing LLC now owns 2,446 shares of the company’s stock worth $136,000 after buying an additional 2,162 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Concentrix during the first quarter worth $495,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Concentrix during the first quarter worth $243,000. Unified Investment Management lifted its holdings in shares of Concentrix by 40.7% during the first quarter. Unified Investment Management now owns 19,146 shares of the company’s stock worth $1,065,000 after buying an additional 5,536 shares in the last quarter. Finally, Summit Trail Advisors LLC bought a new stake in shares of Concentrix during the 1st quarter valued at $503,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Analysts Set New Price Targets

CNXC has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Concentrix in a research report on Friday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $80.00 price target on shares of Concentrix in a research note on Tuesday, September 23rd. Robert W. Baird dropped their price target on Concentrix from $75.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, September 29th. Wall Street Zen raised Concentrix from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $62.00 price target on shares of Concentrix in a research note on Wednesday, September 24th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $66.25.

Concentrix Stock Performance

Concentrix stock opened at $46.93 on Monday. Concentrix Corporation has a 12-month low of $36.28 and a 12-month high of $66.00. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.10. The business’s 50-day moving average price is $50.21 and its two-hundred day moving average price is $52.39. The stock has a market cap of $2.92 billion, a PE ratio of 9.92, a P/E/G ratio of 0.68 and a beta of 0.50.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 4th. Shareholders of record on Friday, October 24th will be given a $0.36 dividend. This is a boost from Concentrix’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, October 24th. Concentrix’s dividend payout ratio (DPR) is presently 30.44%.

Insider Transactions at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total value of $28,955.00. Following the transaction, the executive vice president owned 37,130 shares in the company, valued at $2,150,198.30. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher A. Caldwell bought 1,000 shares of the stock in a transaction on Friday, October 10th. The stock was purchased at an average cost of $45.35 per share, with a total value of $45,350.00. Following the acquisition, the chief executive officer owned 305,345 shares in the company, valued at approximately $13,847,395.75. This represents a 0.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.20% of the company’s stock.

Concentrix Company Profile

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.